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Energy Prices Push Overall CPI Up 0.4 Percent in February
There is still little basis for concern about inflation in February’s data.
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There is still little basis for concern about inflation in February’s data.
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There is widespread concern that President Biden’s rescue package, along with the containment of the pandemic, could lead to inflationary pressures.
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A drop in aggregate hours in February could be an indication that productivity growth is accelerating.
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It is likely that job growth picked up some from its weak January pace.
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The overall inflation picture looks good. Inflation in the problem areas (rent, medical care, and education) continues to be under control.
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It is less likely that inflation will be a major concern overall if inflation remains low in these problem areas as the economy recovers from the pandemic.
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Trump is the first president to leave office with a loss of jobs since Herbert Hoover.
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The continued surge in coronavirus cases will again be the main story in the January employment report.
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The union membership rate rose by 0.5 percentage point to 10.8 percent in 2020, the Bureau of Labor Statistics reports today.
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The pandemic has led to a real flip in price trends.